DenverInfill Blog

I’ve just completed an upgrade of the Highland and Prospect district pages, which join Jefferson Park, Auraria, Central Platte Valley, and Ballpark in having the new look. Like the CPV, I’ve broken Highland up into subareas which allows the aerial photos with the project locations to be at a much larger scale than before. While I’ve been upgrading these City Center district pages, I’ve also been adding updated construction photos, new projects, etc.

Yesterday I speculated that the Uptown Apartments project in Downtown Denver’s Uptown district had started construction and that I was hoping to get more information, including a rendering, soon. Well, thanks to Vicki from Uptown who is a regular DenverInfill contributor, we have plenty of new information about the project. Here is a PDF of an article about the project from the January 2008 issue of Neighborhood Life, the local newspaper that covers the area, written by Vanessa Martin.

The project has indeed started construction, with completion scheduled for late Spring 2009. Along with the East Village redevelopment, Welton Place, One Lincoln Park, and 1915 Logan, that whole Park Avenue/Welton/20th Avenue area is densifying nicely!

Are you ready for another tower crane to loom above the Denver skyline? I hope so, because Swinerton, the general contractor building the 45-story Four Seasons project on Block 074, has a street closure permit for 14th Street to erect the Four Seasons tower crane starting tomorrow (Friday) morning and running through early Monday morning.

Looks like the tower crane will be red!

Great news, Downtown Denver fans! Construction on the Nichols Partnership’s 41-story Spire project on Block 131 will resume, starting tomorrow. Here’s the press release just minutes old:

SPIRE RESUMES CONSTRUCTION WITH NEW CAPITAL STRUCTURE
Denver’s Signature High-Rise Residential Community Back on Track

Denver, CO January 23rd, 2008 – Spire Denver, LLC announced today that it closed on financing for Spire, a $175 million mixed-use 41-story high-rise residential community, located at 891 14th Street. The project’s general contractor JE Dunn will re-commence construction on January 24th with a projected delivery in December 2009. Spire will include 503 attainably priced one and two bedroom homes and 7,633 square feet of street-level retail space. Randy Nichols, President of the Nichols Partnership and the Developer of Spire remarked, “In light of the current state of the capital markets, this financing is a significant accomplishment for the entire Spire team and is further affirmation that downtown Denver continues to be among the select markets that attract nationwide attention from major lending institutions for investment in urban housing.”

Steve Hamline, President and CEO of JE Dunn Construction added, “In my 28 years of experience I have never seen such extraordinary commitment and team collaboration. To keep the project moving forward during such turbulent financial markets is truly amazing. JE Dunn has an unwavering belief in the Nichols Partnership and with the cooperation of our subcontractors we are proud to restart construction of this signature project for our city.”

Denver Mayor John Hickenlooper applauded the announcement, “Spire is an important project for Denver – adding hundreds of new downtown residents, further enhancing the 14th Street corridor’s urban vibrancy, and taking green building to new heights. This exciting development bodes well for the future of Downtown Denver’s residential housing market.” Tami Door, President and CEO of The Downtown Denver Partnership remarked, “We have always had a high level of confidence in the developer’s ability to complete this project and the marketability of the units. This is a transformational addition to Downtown and to 14th Street in particular. We are absolutely thrilled to see the project moving forward and are excited about the added housing choices it will provide to individuals considering living Downtown.”

The senior construction loan was provided by Corus Bank, with Colonnade Properties and Madison Capital Company providing mezzanine debt, along with Fisher Capital providing key subordinate debt for the project. Corus has worked closely with Nichols Partnership to close this loan. “Corus is proud to continue lending to experienced developers on well-positioned condominium developments throughout the country. We look forward to working with Randy and the rest of his team on this exciting project,” said Seth Hewitt, Corus Bank Vice President.

When complete, the LEED (Leadership in Energy and Environmental Design) registered project will combine exceptional views, amenities and location with sustainable design. Spire residents will be steps away from the commerce, culture, sporting events and nightlife of Denver. Homeowners will take advantage of abundant amenities such as a resort style pool deck with outdoor living room, spas and fire pit as well as poolside clubroom with high definition televisions and pool tables. Residents will also enjoy the convenience of a first-class fitness center, 24/7 concierge, grocery and dry-cleaning storage, private dog walk, controlled access and secure reserved parking.

Homes at Spire will enhance the urban living experience with modern design including floor-to-ceiling windows with mountain and city views, balconies, soaring 10-foot ceilings, contemporary kitchens with granite slab countertops, stainless steel appliances and extensive high-tech features. “With residences priced from $200,000, Spire is ideally positioned to provide our owners with a unique opportunity to live in a sustainably-designed, amenity-rich project at an attainable price,” said Randy Nichols, president of Nichols Partnership. “Downtown Denver is a vibrant, exciting place to work, live and play… Spire will enable many more people to experience this dynamic urban lifestyle.”

Spire is located at 891 14th Street adjacent to the Denver Center for the Performing Arts, the Denver Convention Center, a RTD light rail station and a few blocks from Larimer Square, Lower Downtown, The Pepsi Center, the Cherry Creek Bike Path and the 16th Street Mall. Spire’s distinctive location provides residents with prime access to Denver’s compelling lifestyle and places homeowners at the epicenter of over 1.6 billion dollars of public and private investment that is taking place on 14th Street. Additional information about Spire is available on the project website www.spiredenver.com

Back in August, I blogged about a new project, the Uptown Apartments, coming to Downtown Denver’s Uptown district at 20th and Park Avenue. The project is supposed to include 194 rental units in a six-story building wrapped around structured parking. At the time, I noted that construction was scheduled to begin in Spring 2008. Last weekend I took this photo of the block:

An excavation company is working at the site so it looks like construction has already begun. I’ll be posting more information on this project soon.

If you’ve been following DenverInfill for a while, you know that the historic Fontius/Steel building at 16th and Welton on Block 162 in Downtown Denver has been a major focus of this website. Thanks to John Rebchook at the Rocky Mountain News and the architects at Klipp, here is a rendering of what the Fontius will look post-restoration:

Of course, the new Fontius looks a lot like the old Fontius in terms of its overall appearance, but the ground-floor retail spaces will get renovated back to their original design and the whole building will get a full makeover, so when complete, it will be a striking addition to the Downtown experience.

The Fontius (new name pending) will become retail and office space once renovated. The Urban Land Institute also recently helped Evan Makovsky with ideas for the new development on the rest of Block 162. Makovsky and team are currently contemplating the ULI’s recommendations and are working to develop a revised development plan. While it will be another year or so before the final plans for the new development are complete, renovation of the historic Fontius should be finished in time for the DNC in August.

Scaffolding around the Fontius building–what an amazing sight!

By the way, if you haven’t visited John Rebchook’s new real estate blog at the Rocky, check it out here.